Digital lending platform mPokket aims to increase annual loan disbursals to more than ₹25,000 crore and expand its loan book beyond ₹20,000 crore within the next three years, supported by demand for micro-credit in underserved markets. Pasted text
Digital lending platform mPokket has outlined a three-year expansion plan as it looks to increase lending across India’s underserved credit markets.
The fintech company is targeting annual loan disbursals of more than ₹25,000 crore and plans to scale its loan book to over ₹20,000 crore within the next three years.
During the current financial year, mPokket also expects to cross $5.5 billion, or more than ₹52,000 crore, in lifetime disbursals, according to founder and CEO Gaurav Jalan.
Jalan said the company remains focused on building a stronger and more inclusive credit ecosystem as it scales its platform.
mPokket primarily serves young working professionals, self-employed individuals and college students in tier-2 and tier-3 towns, providing short-term personal and micro-loans through its mobile platform.
The company said it has brought more than 6.5 million New-to-Credit customers into the formal financial ecosystem. New-to-Credit customer acquisition has recorded sustained growth of 20% year-on-year over the past three years.
mPokket has also increased the loan ticket size available to small business owners to as much as ₹2 lakh this year.
The company said this move has helped diversify its customer base while strengthening its position in India’s New-to-Credit market. Pasted text
